10 Tips to Minimize Stress When Selling Your Home

When I was growing up, my family must have moved a dozen times. After the first few moves, we had it down to a science: timed out, scheduled, down to the last box. Despite our best efforts, plans would change, move-out and move-in days would shift, and the experience would stress the entire family out. Despite the stress, we always managed to settle in our new home and sell our old one before the start of school.

With a lot of planning and scheduling, you can minimize the stress of selling your house and moving. Here are some tips:

Plan Ahead

Know when you want to be moved out and into your new home and have a backup plan in case it falls through. Before you sell your home, familiarize yourself with local and state laws about selling a home so you’re not caught by surprise if you forget something important.

Lists and schedules are going to be your new best friend through the process. Have a timetable for when you want to sell your house when you have appraisers, realtors, movers, etc. over. Also, keep one for when your things need to be packed and when you need to be moved into the new place. I suggest keeping it on an Excel sheet so you can easily update it as the timeline changes (and it will – stuff happens).

Use Resources

First time selling a house? Check out some great resources on what you need to know. US News has excellent, step-by-step guides on what you need to know to sell. Appraisers and realtors can also be good resources, and since you’ll be working with them through the process, be sure to ask them questions or have them point you to resources.

Appraisal

Have your house appraised before you sell so you know your budget for your new home. This will help you look for an affordable home that meets your family’s needs. It will also help you maximize the amount you can receive for your old home. You can also learn useful information from an appraisal, such as which repairs need to be made, if any.

Repairs

Does your house need repairs before you move? If so, figure out whether you’ll be covering them, or whether your buyers will (this will be a part of price negotiations, so factor it in with your home budget). Will you need to make repairs in your new house, or will that be covered? Either way, make sure you know which repairs need to be made – and either be upfront with buyers about them or make them before you sell.

Prepare to Move

If you’re moving to a new town or a new state, you need to prepare more than just a new home. Research doctors and dentists, places to eat, and what to do for fun. If you have school-aged children, look at the local school district or private school options – not only to learn how to enroll your kids, but also to get a feel for the school culture, see what extracurricular activities your kids can do, what standards/learning methods your kids’ new school will implement, etc.

Packing

Think: how soon are you moving, what will you need to use before you move, what can get boxed and what needs to stay out?  The sooner you’re moving out, the sooner you need to pack, but if you have time, just take a day per weekend to organize a room, pack what you want to take and arrange to donate what you want to get rid of.

Downsizing

Moves are a great time to purge old, unwanted and unused stuff from your home. Sometimes, it’s necessary if you’re moving into a smaller space. Either way, as you pack each room, think about whether you use what you’re packing to take with you. If you do, pack it to go. If not, put it in a separate box to go to your local donations place. You can also call some organizations to have your unwanted things picked up, no hassle.

If You Have Kids

Moving with kids can be extra stressful. Be sure to include them in the process. This is a wonderful opportunity to teach younger children about moving and prepare them for the changes it brings. Older children can help out with responsibilities, like packing their room or researching their new town.

Your New Place

Moving into a new place takes some planning as well. Once you’ve bought your new home or condo, design at least a basic outline for where your stuff will be set up. Make necessary repairs and decorate (painting, for example) before you unpack. Ideally, you should have some time to do these things before, but if you don’t, don’t be in a hurry to unpack everything – it can be a hassle to paint if you have all your furniture and bookshelves up!

Staying In Touch and Making New Friends

Finally, moving can mean good-byes with family and/or friends. Social media is a great way to keep in touch with people after you’ve moved, but distance can still weaken these old relationships. Make some time to call or message your old friends to keep in touch. Pair that work with a concerted effort to meet new people. See what hobbies or groups are in your new area and start there. It doesn’t seem like a lot, but it can make your new house a home and make your new town a community you can enjoy.

Posted in Selling by Guest Author 

Patrick Bailey is a professional writer mainly in the fields of mental health, addiction, and living in recovery. Patrick is currently a writer for Mountain Springs Recovery as well as on his own blog.

Posted on June 1, 2019 at 11:06 am
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How to Get Started in Real Estate Investing

Investing in real estate is one of the world’s most venerable pathways to building wealth. When properly managed, income from renting or real estate investment trusts can provide you with the financial security to plan out the rest of your life. The conclusion is easy to envision, but knowing where to begin can be overwhelming, particularly for anyone who has never previously owned a home.

At Windermere our goal is always to improve and support our communities, so we’ve put together a few key things to keep in mind as you enter the world of real estate investment.

Know the right type of investment for you

Investing in real estate needn’t commit you to being a landlord. A Real Estate Investment Trust (REIT) is a low-maintenance way to get involved in real estate with next to none of the day-to-day monitoring required of direct property management. REITs are trusts that typically own multiple properties, and investors may purchase shares within the REIT. Typically, as the value of the property rises, so too do the values of your shares. If you’d like to dip a toe into real estate investing before diving in fully, a REIT is a great place to start.

Start with your own home

Owning the roof over your head is a basic step towards investing success. Even better, when you plan to live in the home you’re buying (rather than renting it out), you will likely benefit from lower mortgage rates and a cheaper down payment. The reasoning is straightforward – lenders see a loan to people purchasing the home they live in as an investment in people highly committed to the property.

Once you’ve owned your own house for a few years, you can look to purchase a new home to move into. By purchasing the new home with the intent to move in, you’ll be eligible to receive more favorable financing once again. After you’ve secured your new home, your first home is primed to be transformed into a rental property, and you can continue to see a return on your investment. If you’re seeking further support with buying a first, second, or third home, our website and our agents are full of information.

Cast a wide net

The best investment opportunity isn’t always going to be right underneath your nose. While there are logistical benefits to focusing locally with your investment, you may miss more profitable opportunities in another burgeoning market. Real estate is a long game, and patience tends to be rewarded. There’s no cause to rush a decision of this magnitude, so investigating other states and regions to find the property that best fits your situation is a process worth considering.

Posted in Buying by Kenady Swan 
Posted on May 30, 2019 at 11:04 am
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Should I Move or Remodel?

There are a number of things that can trigger the decision to remodel or move to a new home. Perhaps you have outgrown your current space, you might be tired of struggling with ancient plumbing or wiring systems, or maybe your home just feels out of date. The question is: Should you stay or should you go? Choosing whether to remodel or move involves looking at a number of factors. Here are some things to consider when making your decision.

Five reasons to move:

1. Your current location just isn’t working.

Unruly neighbors, a miserable commute, or a less-than-desirable school district—these are factors you cannot change. If your current location is detracting from your overall quality of life, it’s time to consider moving. If you’re just ready for a change, that’s a good reason, too. Some people are simply tired of their old homes and want to move on.

2. Your home is already one of the nicest in the neighborhood.

Regardless of the improvements you might make, location largely limits the amount of money you can get for your home when you sell. A general rule of thumb for remodeling is to make sure that you don’t over-improve your home for the neighborhood. If your property is already the most valuable house on the block, additional upgrades usually won’t pay off in return on investment at selling time.

3. There is a good chance you will move soon anyway.

If your likelihood of moving in the next two years is high, remodeling probably isn’t your best choice. There’s no reason to go through the hassle and expense of remodeling and not be able to enjoy it. It may be better to move now to get the house you want.

4. You need to make too many improvements to meet your needs.

This is particularly an issue with growing families. What was cozy for a young couple may be totally inadequate when you add small children. Increasing the space to make your home workable may cost more than moving to another house. In addition, lot size, building codes, and neighborhood covenants may restrict what you can do. Once you’ve outlined the remodeling upgrades that you’d like, a real estate agent can help you determine what kind of home you could buy for the same investment.

5. You don’t like remodeling.

Remodeling is disruptive. It may be the inconvenience of loosing the use of a bathroom for a week, or it can mean moving out altogether for a couple of months. Remodeling also requires making a lot of decisions. You have to be able to visualize new walls and floor plans, decide how large you want windows to be, and where to situate doors. Then there is choosing from hundreds of flooring, countertop, and fixture options. Some people love this. If you’re not one of them, it is probably easier to buy a house that has the features you want already in place.

 

Five reasons to remodel:

1. You love your neighborhood.

You can walk to the park, you have lots of close friends nearby, and the guy at the espresso stand knows you by name. There are features of a neighborhood, whether it’s tree-lined streets or annual community celebrations, that you just can’t re-create somewhere else. If you love where you live, that’s a good reason to stay.

2. You like your current home’s floor plan.

The general layout of your home either works for you or it doesn’t. If you enjoy the configuration and overall feeling of your current home, there’s a good chance it can be turned into a dream home. The combination of special features you really value, such as morning sun or a special view, may be hard to replicate in a new home.

3. You’ve got a great yard.

Yards in older neighborhoods often have features you cannot find in newer developments, including large lots, mature trees, and established landscaping. Even if you find a new home with a large lot, it takes considerable time and expense to create a fully landscaped yard.

4. You can get exactly the home you want.

Remodeling allows you to create a home tailored exactly to your lifestyle. You have control over the look and feel of everything, from the color of the walls to the finish on the cabinets. Consider also that most people who buy a new home spend up to 30 percent of the value of their new house fixing it up the way they want.

5. It may make better financial sense.

In some cases, remodeling might be cheaper than selling. A contractor can give you an estimate of what it would cost to make the improvements you’re considering. A real estate agent can give you prices of comparable homes with those same features. But remember that while remodeling projects add to the value of your home, most don’t fully recover their costs when you sell.

 

Remodel or move checklist:

Here are some questions to ask when deciding whether to move or remodel.

1.      How much money can you afford to spend?

2.      How long do you plan to live in your current home?

3.      How do you feel about your current location?

4.      Do you like the general floor plan of your current house?

5.      Will the remodeling you’re considering offer a good return on investment?

6.      Can you get more house for the money in another location that you like?

7.      Are you willing to live in your house during a remodeling project?

8.      If not, do you have the resources to live elsewhere while you’re remodeling?

 

If you have questions about whether remodeling or selling is a wise investment, or are looking for an agent in your area, we have professionals that can help you. Contact us here.

Posted in BuyingSelling, and Living by Kenady Swan 
Posted on May 29, 2019 at 11:01 am
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Moving on Up!

 

Moving is stressful, whether it is across town or cross-country.  Once you have closed on your house, the reality of packing, moving, and setting up a new home can become overwhelming. While no list can make a move “stress-free”, planning ahead and staying organized can help make your move a little smoother.  Here is our list of tips:

Getting started:

· Once you know your prospective move date set up a quick timeline to make sure you can get all the important tasks done and ready in time for your move.

· Consider how much stuff you have by doing a home inventory. This can help you decide whether you need to hire movers to help you or if you will be managing your move on your own. Many moving companies supply inventory lists to help you assess the size of truck you will need.  You can use your list as double duty for insurance purposes later.

· As soon as you decide how you will be moving, make your reservations. In general, moving companies and truck rental services are over-booked at the beginning and very end of the month.  If you are planning on hiring a moving company, contact a few in your area for a price quote. To find companies ask your real estate agent, family, or friends, and consult online reviews.  It is also a good idea to request a quote and compare companies.

Preparing for your move:

· Moving is a great opportunity to get rid of clutter, junk, or outdated items. Set aside some time to sort through your closets, storage spaces, files, drawers, and more.  Go through cluttered areas and organize items by “keepers”, “give-aways” and “garbage”. You will have less to pack and an opportunity to update after you move. Contact a local nonprofit organization for your donations; some will arrange to pick up larger donations like furniture. If you have items of value, eBay or craigslist are good options.

· Changing your address is one of the more tedious tasks in the moving process. You will need to change your address with the United States Post Office. You can find the online form here: https://moversguide.usps.com/icoa/icoa-main-flow.do?execution=e1s1.

· You will also need to change your address with each account you have. Here is a list to get your started:

· Employers

· Bank(s)

· Utilities (Electric, Water/Sewage, Oil/Gas)

· Cable/ Telephone

· Cell phone service

· Credit Cards

· Magazine subscriptions

· Insurance companies (auto, home/renters, health, dental, vision, etc.)

· Pharmacy

· Other personal services

Let the packing begin:

· Before you start packing, it may help to visualize where everything you have will go. Perhaps furniture will fit better in a different room? Consider the floor plan of your new home and figure out what will go where. This will aid in packing and labeling as you box everything up.

· Use a tool like floorplanner.com to plan where furniture and items will go.

· When it comes to packing you have some options. You can work with a service that provides reusable boxes for moving or you can reuse or purchase cardboard boxes.  Make sure you have enough boxes, packing tape, dark markers, and packing paper.

· Pack rooms according to your floor plan. Label boxes with contents and room. This will make it easier to unpack your home, knowing where everything is going.

· Real Simple magazine has some great tips on packing for your move.

· If you have to disassemble any of your furniture, make sure you keep all the parts and directions together.

· Make sure you set aside your necessities for the day you move. Being tired and unable to take a shower or make your bed can be hard at the end of a long moving day. Here are some ideas of what you may like to pack in your “day-of-move” boxes.

· Clean linens for the beds, pillows and blankets

· Clean towels

· Shower curtain, liner and hooks

· Toiletries, hand soap, tooth brush, etc.

· Disposable utensils, cups, napkins, etc

· Rolls of toilet paper

· Snacks and water

· Change of clothes

· Tools for reassembling furniture, installing hardware, and hanging photos

Making your move

· Come up with a game plan with your family, so everyone has a role and a part to play

· Once the house is empty, do a once over on your old place to make sure it is clean for the next owners/occupants. Here is a useful checklist for cleaning.

Warming your new home

· Once you have settled into your new home, warm it up by inviting friends and family over to celebrate. Here is a great infographic about housewarming traditions and symbolism.

· Announce your move to far-away friends and family through moving announcements to make sure you stay on the holiday card mailing list.

 

Do you have any other tips or advice for achieving a smooth move?

Posted in Buying by Tara Sharp 
Posted on May 26, 2019 at 10:58 am
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Top 3 Reasons Short Sales Fail

Short sales are complicated. With all the variables that need to be juggled, it’s easy to make mistakes that end up derailing a transaction. Here are the most common reasons that short sales fail.

1) Failure to understand and justify market value.

Setting a price for a short sale is the delicate art of balancing what a buyer will pay and what the lender will approve. It’s important to understand how the lender values a property. The bank will commonly hire an appraiser or BPO broker to set a value after you submit an offer. If you have set the price too low, the lender will not approve the offer. Everyone loses. The buyer has been given an unrealistic expectation of what they should pay, so usually is not willing or able to offer much more. More importantly, your client’s clock is ticking. They have a certain deadline to do a short sale and avoid foreclosure, and you have squandered valuable time on a deal that was never going to go through. (If you think the value the bank set is unreasonable, this Ask the Expert article explains how to dispute lender valuations.)

2) Not knowing the specific lender’s short sale process.

On average, the bank’s short sale negotiator has over 1,000 short sale transactions that they are processing at any given time. And each lender’s process is different. If you don’t follow the lender’s specific process or there is an error in the paperwork or you’re missing a form, it all comes to a halt. Your file gets set aside until the issues can be resolved. And unless you call, it can be weeks before you are even aware that there is a problem. (We have a dedicated staff that follows up with lenders daily to make sure the process is moving forward.)The short sale transaction that closes, and closes quickly, is the one where everything is done right the first time.

3) No system to monitor the short sale process.

Because a short sale has so many more variables than a traditional real estate transaction, one of the most important jobs the listing broker has is making sure everyone involved has all the information they need to make their part of the deal happen. We have a private password-protected online system that lets all parties see what’s happening with a transaction at any time – 24 hours a day, 7 days a week. This helps everyone involved track deadlines and ensure that no details fall through the cracks. It’s also important for you to build a team of professionals who are highly experienced in short sales. For example, we work with title and escrow agents who understand the additional documentation and complex issues that are specifically related to short sales.

Richard is a Windermere broker in Bellevue, WA and co-founder of Washington Property Solutions, a short sales negotiating company. Since 2003 he has helped more than 700 homeowners sell their homes. A Bellevue native and a University of Washington grad, Richard is an avid sports fan and a devoted Little League and basketball coach. You can learn more about Richard here or at www.washortsales.com.

Posted in Selling by Richard Eastern

Posted on May 25, 2019 at 10:56 am
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When It Comes Time to Downsize

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When it comes time to decide if you want to downsize, there are many thoughts and emotions that go speeding through your mind.  Maybe you have already decided this is your home for the rest of your life.  Your home was the perfect place to meet your needs when you were in an earlier cycle of life, and will be the ideal home for all the events you see happening in your next.  If you are inclined to feel that the home you currently reside in may have out-lived its purpose, you may be struggling with some of the same thoughts and emotions my husband and I had when it came to the emotional and financially sensitive decision to downsize.

In our situation, we loved our home.  It provided everything we needed to raise our three children, plus nurture all the creative projects that identified who we are as a family as well as individuals.  Our children were just like anyone else’s; loved, individually different, all requiring unique activities and space to help them grow, using their special talents.  We loved our neighborhood and took an active part in making it an extension of our home.  Considering that it had been our home for decades, deciding to leave was emotionally difficult.

We spent several years before we knew we would leave our home, looking at all the smaller options.  We wondered, should we look for another single-family dwelling or check out other options like co-ops of condominiums?  My husband had spent the past twenty-five years mowing our lawn and was quite willing to remove this task from his plate. I, on the other hand, still loved to garden.  Was there a living environment that could satisfy both these expectations?  We looked at every condominium and every co-op in the Seattle area for five years, but nothing really fulfilled everything we needed.  We had a list of features including a garden spot, closets and efficient use of space, etc. I’m an Old World Charm lady, but guess what?  Back in the 20’s ladies only owned three dresses.  Let’s just say, I own a few more outfits than most pre-war closets were meant to hold.  So the search went on.

When our children finally reached their 20’s and my husband wanted to retire, we knew it was time to make our move.  Like I said, everyone loves their children, but not all the party time we now came to expect in our rec room every weekend.  We were ready to have a space of our own, and it was time for our kids to begin their next cycle in-life.  We also had too much of our finances tied up in a 3,000 square foot house, when in reality we needed less and could save more.  We had to leave the home we had dedicated to making our unique expression of who we were, and leave very soon.

If any of this sounds familiar, your task will be a little easier than it seems! Here is some practical advice for making your move:

Define your needs:  Narrow down your ideal needs. Start by deciding if you want a single-family versus multi-family dwelling. Consider your price range, and then space needs.

Downsize: We downsized a bit more than we should have, but we sure got rid of lots of items we collected over the past 25 years.  Some of them were special to me.  I’d purchased a beautiful wood serving tray at a yard sale with one of my dearest friends.  I had to borrow money from her to buy it.  I solved the problem by giving it to her when we moved, and I still see it when I visit her home.  My children took much of the furniture they had a special connection to, and my nephew, who spent nearly every Christmas sitting in his favorite red chair, can now enjoy it in his own home.

Let go: Leaving the neighborhood and all our lifelong friends was the most difficult process, I think, of all the decisions we had to make.  We still see them, but as I’m writing this my eyes are tearing up.  It’s hard to re-visit my old neighborhood and see my old home cared for in a different way than I had lovingly done for twenty-five years.  But it does give us plenty of things to talk about with old friends when we get together.

What did we end up doing?  We moved into a vintage 1930’s co-op in a walkable part of town.  I have just the right amount of gardening space that I share with other owners.  We have made wonderful friends with some of our neighbors and get together frequently for happy hour and spur-of-the-moment gatherings.  It’s a different lifestyle than we had before but, believe me, there are plus sides. In no way will any of our three wonderful, adored, adult children ever be able to move back home, since we now live in an 850-square-foot co-op with every space used on a daily basis.  There were times when I wouldn’t go in one of my rooms in our old home for several weeks.  This is not a problem now.  Yes, maybe it’s too small, but we can always move into a larger place if and when we feel it’s time.

What are your questions about downsizing your home? What features do you require to live in a smaller, more efficient dwelling?

Pat Eskenazi is a Windermere veteran, working in marketing for the past 12 years. She has lived in Seattle since 1952.  Her favorite place to walk is along Golden Gardens, and she especially loves to climb the stairs up to the Sunset Hill neighborhood where she lived with her 3 children and husband for 25 years.

Posted on March 6, 2019 at 9:57 am
Windermere DTC | Category: Buyers & Sellers | Tagged , , ,

Divorce, Custody, and Employee Mobility

Divorce, child custody and relocation are all difficult topics however, knowing the facts will help you make the decisions that are right for you and your family. Below you will find an excerpt from an article recently published in Mobility Magazine by Windermere’s own Peggy Scott, GRI, CRP, GMS. She is the relocation director and designated broker for Windermere Relocation and Referral Services, Seattle, WA. You can read the article in its entirety here: http://bit.ly/9PrKxL

Argument2

“As society becomes increasingly mobile, so does the frequency with which global mobility professionals encounter relocation cases involving child custody. Scott defines custody, discusses its effects on mobility, and offers a case study demonstrating how divorce affects the relocation process.”

While the divorce rate varies greatly in each country of the world, affecting the lives of men and women, those with children be affected the greatest. No family law generates more concern, strife, and emotional turmoil than child custody and visitation matters. Every court around the nation will advocate for the best interest of the children involved in divorce.

Developing an amicable parenting plan or agreement for the interests of the children is the best solution to establishing custody of a child. The best interest of the child is served by a parenting arrangement that best maintains a child’s emotional growth, health and stability, and physical care. According to Washington state law, the best interest of the child ordinarily is served when the existing pattern of interaction between a parent and child is altered only to the extent necessitated by the changed relationship of the parents.

If the parents cannot reach an agreement concerning the custody and parenting plan for the child, then the court may establish either sole or mutual decision-making authority as well as residential provisions. The parenting plan or agreement needs to support, in detail, the child’s best interest in the areas of school, physical care, traveling expenses, individual parental authority, and residence options and rules. All divorce cases involving child custody, whither uncontested or contested, must include a parenting plan or custody order (either by agreement or ordered after trial) that is adopted by the courts.

To read the rest go here: http://bit.ly/9PrKxL

Posted on March 4, 2019 at 9:54 am
Windermere DTC | Category: Buyers & Sellers | Tagged , , , ,

What You Need to Know about Buying a Bank Owned Home

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Recently, news about how to purchase a real-estate owned (REO/bank owned) home, foreclosure property or short sale is everywhere. Bank owned homes are sold directly from the lender after the foreclosure process is complete, and while you may save quite a bit of money by choosing to go for this type of home, it is not without trials and tribulations. The process of purchasing a home directly from a lender can be long and arduous, but could very well be worth it in the end.
If you have your sights on a particular home or are looking to find a deal on your first, working directly with the lender may be your only option. Purchasing a bank owned home is not for the faint of heart, here are some tips for negotiating the REO process:

1. Be prepared: The condition of bank owned properties is usually poor and hard to show. Past owners may have left angry and left the home in bad condition with foul smells, missing appliances, wires taken from breakers, gas fireplaces gone, even bathrooms without toilets and sinks.

2. Understand the costs: Maintenance or repairs may be necessary, since these homes have been vacant for an unknown period of time–sometimes months or years. Keep in mind, when they were occupied the owners could have been under a financial hardship, preventing them from doing regular seasonal care or repairs when needed. Remember as well that the bank is trying to sell the house immediately, so you will receive a financial break in the price rather than a willingness to negotiate on the maintenance and repair issues.

3. Accept the unknown: In traditional real estate transactions, homeowners fill out Form 17 regarding important information about the history of the house. A bank owned home is either exempt or marked with “I don’t know” throughout the document. Not having the accuracy of this 5 page disclosure form could leave you with a lot of unanswered questions on the history of the home.

4. Know what is non-negotiable: The pricing on the house may not get much lower. Some of these properties can be “a dream come true” if you get them at an amazing price, or they could be your worst nightmare. Do your due diligence researching any property, and conduct all necessary inspections to safeguard yourself. Some major repairs may be negotiable, but will likely not reduce the home price.

5. Make a clean offer: The higher the price you can offer, the better. Include your earnest money, keep contingencies to a minimum, and suggest a reasonable closing date. The simpler your offer is, the higher chance you have of the bank accepting your offer or countering in a reasonable time period.

6. Be patient: Consult with a professional who handles bank owned home purchases to help you negotiate the pathway to homeownership. The process of purchasing a bank owned, foreclosed or short-sale home is typically longer than a typical real estate sale.

What do you want to know about purchasing bank owned, foreclosure and short-sale properties?

 

Posted in Uncategorized by Windermere Guest Author 

Tonya Brobeck is a Broker at Windermere Lake Stevens. She has a total of 17 years combined residential real estate and worldwide resort sales & marketing experience.

Posted on March 2, 2019 at 9:50 am
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5 Deal Breakers that can Blindside Home Buyers

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Purchasing a home can be a complex endeavor for even the most well prepared home buyer.  You’ve diligently saved for your down payment, followed the market, researched agents and now you are ready to make an offer on your dream home.  Don’t let these 5 “Deal Breakers” come between you and your new home.

    1. Big Purchases on Credit. It is tempting to buy the furniture for your new home or a new car for the garage before the sale closes. Take care if you are making these purchases on credit. Large purchases on credit can have a major impact on your credit profile which effects your mortgage application. It’s a better plan to wait until after closing or pay cash for these transactions or you may be putting that furniture in a different living room than you originally picked them out for.
    2. Overpaying. Before your bank will approve your mortgage they will appraise the home you are purchasing.  If they feel you are overpaying they are likely to decline your mortgage application. If you find yourself in this situation consult with your agent on renegotiating your offer to be more in line with the bank’s appraised value.
    3. Purchasing too close to Foreclosure. If you are making an offer on a house which is facing foreclosure be sure to have a closing date set before the foreclosure date. Have your agent work with the lender to structure closing before the house goes back to the bank and into foreclosure.
    4. IRS liens. You’ve heard the old saying “Death and Taxes”.  Back taxes and liens can derail your attempts to get financing for a mortgage so be sure to have your books in order before filing your loan application.
    5. Comprehensive Loss Underwriting Exchange (CLUE). CLUE is a data base of insurance claims for both people and property.  Your home insurance rates are determined by the information about you and the property you plan to purchase which is contained in this report. Past claims for water damage, falling trees and even dog bites from present and past owners can multiply your insurance rates. Consult your agent about the CLUE report for your future home as soon as possible once your home purchase offer is accepted.

When purchasing a home there will be challenges which you can plan for and the unexpected hurdles.  By educating yourself as a consumer and choosing a well trained real estate agent you can avoid many of the pitfalls of 21st century home ownership.

What about you? Tell us if you have had any “deal breaker” experiences.

Posted in Uncategorized by Justin Waskow 

Posted on February 19, 2019 at 1:33 pm
Windermere DTC | Category: Buyers & Sellers | Tagged , , , ,

Questions to Ask Your Home Inspector

To get a quality home inspection, ask the right questions before you put your inspector to work. Here are some of the basics.

What does your inspection cover? 
Insist that you get it in writing. Then make sure that it’s in compliance with state requirements and includes the items you want inspected.

How long have you been in business? 
Ask for referrals, especially with newer inspectors.

<!–more–>Are you experienced in residential inspections? 
Residential inspection is a unique discipline with specific challenges.

Do you do repairs or make improvements based on the inspection? 
Some states and/or professional associations allow the inspector to perform repair work on problems uncovered in an inspection. If you’re considering engaging your inspector to do repairs, be sure to get referrals.

How long will the inspection take? 
A typical single-family dwelling takes two to three hours.

How much will it cost? 
Costs can vary depending upon a variety of things, such as the square footage, age and foundation of the house.

What type of report will you provide and when will I get it? 
Ask to see samples to make sure you understand his reporting style. Also make sure the timeline works for you.

Can I be there for the inspection? 
This could be a valuable learning opportunity. If your inspector refuses, this should raise a red flag.

Are you a member of a professional home inspector association? What other credentials do you hold? 
Ask to see their membership ID; it’s some assurance.

Do you keep your skills up-to-date through continuing education? 
An inspector’s interest in continuing education shows a genuine commitment to performing at the highest level. It’s especially important with older homes or homes with unique elements.

Any other good questions to ask?  Post yours now!

Posted on February 8, 2019 at 5:00 am
Windermere Colorado | Posted in BlogFor Buyers & Sellers | Tagged 
Posted on February 16, 2019 at 9:19 am
Windermere DTC | Category: Buyers & Sellers | Tagged , , ,